France that had been surprisingly behind in the crypto arena, is attempting BTC investment. However, the French cryptocurrency movement is not forwarded by any private organization but the central government instead. One French politician is willing to rise to the occasion and started a massive petition in favor of Bitcoin.
The winds of change have taken over the French Senate as a petition for France’s central bank to invest in Bitcoin has been roaming around. The original creator of this idea was the CEO of Ark Ecosystem CEO Francois-Xavier. When Xavier launched his petition earlier this month, it quickly caught the eye of many and piqued one politician’s interest in particular. Jean-Michel Mis has taken a great liking to this idea and has managed to sway the French Parliament to file an official petition to take action.
France to Fall Behind in the Crypto Arena
Thus far, France is not counted as the cryptocurrency-friendly country in the world. The status of Bitcoin and other cryptocurrencies are making a visible impact on the economic footprint of many countries like Venezuela. However, there is still an acute lack of crypto regulations in France. Last December, French ministers imposed a ban on unnamed crypto accounts.
This move was made to address the problem of cryptocurrency fraud cases in the country. However, since then, crypto technology has advanced, and even Wall Street is prepared to dive headfirst into the crypto trading schemes, such as Bitcoin trading. Jean is an active politician and a member of the National Assembly in France. His strong position and ambition on Bitcoin have turned many heads in his direction.
Can France Manage to Become a Crypto-Friendly Nation?
According to sources, Jean wishes to transform France from crypto-phobic to a crypto-savvy nation. He had also co-founded the French Federation of Blockchain Professionals (FFPB) with Remy Ozcan in 2020. Although the movement is still green and looking for more members, it has managed to make a lot of noise in the financial and commercial sectors of France. The petition submitted by the French Parliament calls on the French Senate Members to review the statistics of US-based organizations like MicroStrategy, Square Inc., and Tesla.
All of these corporations have reportedly made big investments and gains in Bitcoin in the last and present year. The bill aims to sway the Senate to convince Banque de France to invest in Bitcoin and other types of cryptocurrencies. Out of 100,000 required signatures to push the petition to the Senate Floor, Jean has only managed to get 293 thus far.